Firm P has accounts receivable of $19,000, cash of $11,000, property, plant, and equipment of $310,000, merchandise
Question:
Firm P has accounts receivable of $19,000, cash of $11,000, property, plant, and equipment of $310,000, merchandise inventory of $26,000, accounts payable of $24,000, other accrued liabilities of $16,000, common stock of $250,000, and retained earnings of $76,000.
Required:
Calculate Firm P’s working capital and current ratio.
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11000 cash 19000 accounts receivable 26000 inventory 56000 ...View the full answer
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